§ 409.314 — Perfection by control.

Wisconsin § 409.314

• Jurisdiction: Wisconsin
• Ch. 409: Uniform commercial code — secured transactions
• Subch.: subch. III of ch. 409 SUBCHAPTER III

Text

409.314
409.314(1) (1) Perfection by control. A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under s. 407.106 , 409.104 , 409.105 , 409.106 , or 409.107 .
409.314(2) (2) Specified collateral: time of perfection by control; continuation of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under s. 407.106 , 409.104 , 409.105 , or 409.107 when the secured party obtains control and remains perfected by control only while the secured party retains control.
409.314(3) (3) Investment property: time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under s. 409.106 from the time the secured party obtains control and remains perfected by control until:
409.314(3)(a) (a) The secured party does not have control; and
409.314(3)(b) (b) One of the following occurs:
409.314(3)(b)1. 1. If the collateral is a certificated security, the debtor has or acquires possession of the security certificate;
409.314(3)(b)2. 2. If the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or
409.314(3)(b)3. 3. If the collateral is a security entitlement, the debtor is or becomes the entitlement holder.

Legislative History

409.314 History History: 2001 a. 10 ; 2009 a. 322 .